Crypto Prices Set to Move as Key Economic Data Releases Approach

This week is packed with economic releases that could influence risk assets and crypto prices. The key events include July Existing Home Sales data, OPEC Monthly Report, July CPI Inflation data, July PPI Inflation data, July Retail Sales data, and August MI Consumer Sentiment data.

The CPI and PPI figures are especially important as they can impact expectations around interest rates and broader risk appetite. Strong inflation readings could trigger selling, while cooler data may boost Bitcoin and other risk assets.

Bitcoin is approaching a key resistance zone of $68K-$70K, with some analysts expecting it to hit $69K before a deeper correction begins. The current move may not be the start of a fresh bull run, but rather one final squeeze before a real flush begins.

Ethereum and XRP are also attracting attention, with Ethereum showing two TD Sequential buy Indicators on its monthly chart. Analysts believe that if these signs are validated, Ethereum could potentially move toward $3,000.